CREDIT INSURANCE • COLLECTIONS • CREDIT MANAGEMENT
The services listed below are specifically suited to Foreign Companies or Organizations that do not have a US or Canadian subsidiary but nevertheless need a structure in North America to provide these services.
Credit Insurance Services
- Receive copies of all Purchase Orders during the Selling Season.
- Submit all Customers on the Purchase Orders to the Credit Insurance Company to request Credit Insurance Coverage.
- Notify the Company as to which Customers are insured and for what amount and which Customers are not insured.
- Prepay the Credit Insurance Premium as soon as the Customers are approved.
- Provide the Company with Credit Reports on Customers that have been denied by the Credit Insurance Comapny.
- Monitor payments received and notify the Company as to which unpaid Invoices are near the date by which time a Claim has to be submitted to the Insurance Company.
- Submit Claims to the Credit Insurance Company for Invoices that are overdue.
- Monitor the Claims in order to get payment from the Credit Insurance Company as soon as possible.
Credit Management and Collection Services
- Receive copies of all order confirmations sent by the Company to the Customers.
- Receive copies of all the Invoices issued by the Company to US Customers and log them into the Accounting System.
- Monitor the due dates of all the Invoices.
- Solicit payments for Invoices that are almost due.
- Solicit payments for Invoices that are past due.
- Review with Company all Invoices that are more than 45 days past due.
- After receiving authorization from the Company, submit to a Collection Agency Non Insured Invoices that are more than 60 days past due.
- Receive payments from the Customers and log them into the Accounting System.
- Contact Customers who take Credits or issue Charge Backs in order to deetrmine if they are valid.
- Deposit checks received into the Bank Account.
- Notify company of all payments received and deposits made.
- Keep copies of all checks.
- Keep track of post dated checks and deposit them as they mature.
- Provide the Company with weekly reports on payments received and open invoices.
- Process payments made via credit card by the Customers and log them into the Accounting System.
ITMAS • THE OUTSOURCING SPECIALIST
A SINGLE PARTNER • MULTIPLE SOLUTIONS